MapmyIndia Acquires 9.37% Stake in AI Startup SimDaaS Autonomy: Advancing Geospatial and Automotive Technologies

MapmyIndia Acquires 9.37% Stake in AI Startup SimDaaS Autonomy

With this, MapmyIndia aims to integrate AI-driven simulation and autonomy solutions to enhance its geospatial and automotive technologies. Digital mapping and geospatial services company MapmyIndia has acquired a 9.37% equity stake in Kanpur-based startup SimDaaS Autonomy, according to reports. The deal, valued at approximately INR 3 crore, involves both equity funding and preference shares. The partnership with SimDaaS aligns with MapmyIndia's strategy to stay ahead in the geo-technology space. With this investment, the company intends to integrate advanced AI and simulation tools to enhance its offerings, particularly in the automotive sector. The collaboration is expected to support the creation of more advanced solutions for autonomous driving and safety technologies. MapmyIndia, founded in 1995 by Rakesh Verma and Rashmi Verma, is known for its comprehensive suite of navigation and location-based services. It caters to industries such as logistics, automotive, and consumer services. SimDaaS Autonomy, established in 2023 and based in Kanpur, focuses on developing simulation technologies for autonomous systems and advanced driver-assistance systems (ADAS). The startup is led by Bharat Lohani, a director with academic ties to IIT Kanpur. Its simulation-driven development platforms aim to enhance the design, testing, and validation of autonomous vehicles. Alongside this strategic acquisition, MapmyIndia recently witnessed significant organisational changes. Rohan Verma, CEO of MapmyIndia and son of the company's founders, announced his resignation to focus on a new business-to-consumer (B2C) venture. Initially, MapmyIndia had planned to invest in Verma's new project, but the board decided against it after receiving feedback from investors. This decision led to a 16% surge in MapmyIndia's stock, indicating strong investor confidence in the company's future direction. The acquisition of SimDaaS comes at a time when demand for autonomous systems and AI-driven solutions is accelerating. By leveraging SimDaaS's expertise in simulation technologies, MapmyIndia is poised to expand its capabilities in the growing ADAS and autonomous vehicle markets. Interestingly, MapmyIndia, entered into a strategic collaboration with Qualcomm Technologies to advance 'Make in India' solutions for the automotive sector. The partnership aims to integrate Qualcomm's Snapdragon Digital Chassis solutions with MapmyIndia's expertise to deliver connectivity solutions for both four-wheelers and two-wheelers. Similarly, MapmyIndia also partnered with Bengaluru-based startup KOGO AI to launch India's first universal voice assistant for the automotive industry. KOGO AI is building a customisable AI operating system, KOGO OS, which can build, manage, and deploy various AI agents across industries. "Unlike Siri and Alexa, these agents not only give you access but can also operate apps and services on your behalf," said Raj K Gopalakrishnan, co-founder and CEO of Kogo Tech Labs, in an exclusive interaction with AIM. Interestingly, in a strategic move to attract developers and businesses, Google recently announced a 70% reduction in the pricing of its Maps APIs. This significant price cut intensifies competition in the digital mapping sector, challenging companies such as MapmyIndia. Concurrently, MapmyIndia's CEO, Verma, has openly criticised Ola's mapping initiatives, referring to them as a "gimmick." He expressed concerns about the quality and reliability of Ola's mapping services and cautioned users to be wary of potential inaccuracies.

MapmyIndia Picks Up 9.37% Stake In AI Startup SimDaas

Founded in 2023, SimDaas Autonomy focuses on simulation technologies for autonomous systems and advanced driver-assistance systems (ADAS). Listed geotech company MapmyIndia has acquired a 9.37% stake in Kanpur-based AI startup SimDaas Autonomy for about INR 3 Cr. The transaction was a mix of equity infusion worth INR 2,194.25 and issuance of 13,671 compulsorily convertible preference shares (CCPS) having a face value of INR 2,194.25 each, taking the total value of the deal to INR 2.99 Cr. While the deal was first announced in November last year, it was completed on January 24, as per an exchange filing by MapmyIndia. Founded in 2023 by Sunit Arya, SimDaas Autonomy focuses on simulation technologies for autonomous systems and advanced driver-assistance systems (ADAS). Shares of MapmyIndia were trading flat at INR 1,661 apiece on the BSE at 11:19 AM today (January 27).